August 23, 2025: Facing a shortage of space to accommodate its growing number of stock brokers and officials, the Bombay Stock Exchange (BSE) has received approval to convert five service floors in its Fort-based Phiroze Jeejeebhoy Tower and Rotunda building into office spaces. Both buildings fall within the Coastal Regulation Zone (CRZ), where construction is restricted, and the Maharashtra Coastal Zone Management Authority (MCZMA) sanctioned the change in use in exchange for a fee, sources told Hindustan Times.
“Responding to our proposal submitted earlier this year, the MCZMA has allowed us to use five service floors for offices as we require additional space for our operations,” a senior BSE official said. The plan does not involve new construction, aside from altering 168.80 square metres within the existing floor plans.
BSE, Asia’s oldest stock exchange, began in 1875 as the Native Share & Stock Brokers Association. The 30-storey Phiroze Jeejeebhoy Tower and the adjacent seven-storey Rotunda building were completed between 1979 and 1992 and were affected during the 1993 Mumbai bombings, when an explosion in the basement connecting the two structures caused damage.
Previously, the third, 13th, 26th, and 28th floors in Phiroze Jeejeebhoy Tower and the mezzanine floor in Rotunda were designated as service areas for pantries, housekeeping, storage, and related purposes, and were excluded from the floor space index (FSI). The 2034 Development Plan lists the plot area as 4,970 square metres, with an FSI of 34,271.44 square metres and a non-FSI area of 9,549.79 square metres.
The conversion will add 8,972.61 square metres to the FSI area. The BSE also proposed removing two existing escalators in the Rotunda building and closing gaps measuring 168.80 square metres, which was approved by the MCZMA.
“We will use the five floors to set up offices and data centres,” the BSE source added.
Source: Hindustan Times
